F|T: FinTech Times Jack Dorsey's Block to be investigated by US federal prosecutors

In addition, Binance's CEO was sentenced to four months in prison.

Welcome to FinTech Times. A weekly newsletter covering the biggest FinTech news from around the world. If you want to be the first to read F|T, be sure to subscribe using this form.

Federal prosecutors are investigating the financial dealings of Cash App and Square owner Block

Federal prosecutors are scrutinizing the internal practices of Bloc, the financial technology company started by Twitter co-founder Jack Dorsey, and are investigating extensive and long-standing practices at two of the company's main divisions, Square and Cash App. The company is in talks with a former employee who is said to have committed compliance violations over several years. Contact knowledge says.

During the discussions, former employees told prosecutors in the Southern District of New York that not enough information was collected from Square and Cash App customers to assess the risks, and that Square was involved in countries subject to economic sanctions. It provided documentation showing it had processed thousands of transactions. The block processed multiple cryptocurrency transactions for terrorist groups.

(NBC News)

Rogers Cybersecure Catalyst and RBC launch FinSec Incubator

Rogers Cybersecure Catalyst and RBC have launched the RBC FinSec Incubator, a new program to incubate early-stage FinTech and cybersecurity startups.

The program teaches entrepreneurs about industry procurement requirements and provides an opportunity to demonstrate their technology to industry experts and potential investors, allowing participating startups to improve the security and resiliency of their products. The purpose is to help you achieve product-market fit.

(beta kit)

Binance founder Qiao Changpeng sentenced to 4 months in prison

Binance founder Changpeng Chao was sentenced to four months in prison for failing to establish adequate anti-money laundering measures. Mr. Zhao, once the head of the world's largest cryptocurrency exchange, pleaded guilty in November 2023.

Judge Richard Jones said Zhao prioritized Binance's growth and profits over compliance with U.S. laws and regulations. Although Jones believes it is unlikely that Zhao will reoffend, the scale of the crime is noteworthy. Although Zhao is not as famous as FTX fraudster Sam Bankman Freed, he is a more important figure in the crypto world. The Chinese-Canadian entrepreneur founded Binance in 2017.

The Verge also raised some questions about what Zhao Changpeng gave to the federal government.

(The Verge)

WonderFis Bitbuy acquires Bitstamp customers as crypto exchange exits Canada

BitBuy, a regulated subsidiary of Torontos WonderFi, has acquired Bitstamp's Canadian customers as the cryptocurrency trading platform Bitstamp exits the country.

Through a business deal announced late last week, Bitbuy acquired more than 110,000 individual and institutional customer accounts from former competitor Bitstamp.

WonderFi also announced this week that it has reached agreements with Kaos and Mogo to revamp its board of directors. Previously, Chaos and Mogo have claimed that WonderFi has underperformed despite a strong crypto market due in part to the composition of its board of directors, but WonderFi has maintained that Mogo has not paid a premium and It claimed to be seeking control of the currency market.

(beta kit)

Wealth management startup Altruist valued at more than $1.5 billion

Wealth management startup Altruist announced it has raised $169 million, increasing its valuation to more than $1.5 billion.

Altruist, which aims to compete with Charles Schwab Corp. and Fidelity, bills itself as the latest custodian-building technology for financial advisors. Its software and apps help you open accounts, trade, and create custom financial models.

(BNN Bloomberg)

FinTech startup Fluence Technologies agrees to be acquired by Anaplan

Toronto-based fintech software startup Fluence Technologies will be acquired by Miami-based Anaplan for an undisclosed amount. The Los Angeles-area-based company received an investment led by Iconiq Growth, with participation from Granite Capital Management, Adams Street Partners and Sound Ventures, according to a statement seen by Bloomberg News.

Founded in 2019, Fluence Technologies develops SaaS solutions for closing, consolidation, and reporting. This solution is targeted at finance teams at high-growth and acquisition-motivated companies.

(beta kit)

5 things to do at the world's most interesting crypto conference

Billed as a cross between blockchain's Super Bowl and Web3's Cannes Film Festival, Consensus 2024 is a three-day event hosted by CoinDesk and taking place from May 29th to 31st in Austin, Texas.

The event is known for bringing together the most influential members of the cryptocurrency, blockchain, and Web3 communities, from Wall Street giants and AI innovators to ecosystem builders, protocols, and startups.

(beta kit)

Wallet-as-a-Service startup Ansa raises $14 million led by female investors

Ansa, a startup that helps merchants develop and offer branded virtual wallets, has raised $14 million in Series A funding, the company tells TechCrunch exclusively.

Founded in 2022 by former Adyen product manager Sophia Goldberg and former Affirm software engineer JT Cho, San Francisco-based Ansa helps businesses process small payments and offset high credit card fees. We're building what we call a helpful, white-label digital wallet infrastructure. Small transactions.

(Tech Crunch)

Shopify Tobi Ltke headlines special BetaKit Town Hall on May 7th

Canada currently faces many headwinds. The federal government's response to these issues and the looming productivity crisis have many in Canada's technology industry looking for improvement.

BetaKit hosted a special town hall that brought together Canadian founders and leaders from across the tech ecosystem to take stock of the state of innovation, productivity, optimism, and more.

The event will feature a discussion with Shopify CEO Tobi Ltke and conversations with AMA, Cohere co-founder Ivan Zhang, MedEssist co-founder Joella Almeida, and Tulip Retail founder Ali Asaria. We'll be expecting you!

(beta kit)

Zm Rails hits milestone following Series A round

Zm Rails has increased annual recurring revenue (ARR) by $5 million in the past six months, co-founder Miles Schwartz wrote in a LinkedIn post this week.

BetaKit, which has been in-house since 2019, covered the Montral-based fintech startup that raised C$10.5 million in Series A funding for its payments platform in February.

(LinkedIn)

Beyoncé's former digital director thinks your culture is meaningless

Do ping pong tables, office dogs, and casual dress codes equate to authentic culture?

Dr. Marcus Collins says no. The man who will be the keynote speaker at his Inventures 2024 in Calgary this May lives at the intersection of marketing and culture. During his career, he has led Beyoncé's digital strategy and award-winning campaigns for industry giants such as Apple and Nike. Collins believes that while tech companies regularly tout their culture, they often fail to live up to what they advertise.

(beta kit)

F|T: FinTech Times is supported by the Schulich School of Business.

Embrace disruption and innovation

In today's business world, every leader needs a technological edge. Schulichs Tech MBA offers an innovative and evolving curriculum and experiential learning opportunities in Toronto's technology industry. Designed for those who aspire to lead change, not just follow it.

To learn more, check out our “Tech Talks” video series.

Featured image courtesy of Mark Warner via Wikimedia Commons.

Sources 1/ https://Google.com/ 2/ https://betakit.com/ft-the-fintech-times-jack-dorseys-block-investigated-by-us-federal-prosecutors/ The mention sources can contact us to remove/changing this article

What Are The Main Benefits Of Comparing Car Insurance Quotes Online

LOS ANGELES, CA / ACCESSWIRE / June 24, 2020, / Compare-autoinsurance.Org has launched a new blog post that presents the main benefits of comparing multiple car insurance quotes. For more info and free online quotes, please visit https://compare-autoinsurance.Org/the-advantages-of-comparing-prices-with-car-insurance-quotes-online/ The modern society has numerous technological advantages. One important advantage is the speed at which information is sent and received. With the help of the internet, the shopping habits of many persons have drastically changed. The car insurance industry hasn't remained untouched by these changes. On the internet, drivers can compare insurance prices and find out which sellers have the best offers. View photos The advantages of comparing online car insurance quotes are the following: Online quotes can be obtained from anywhere and at any time. Unlike physical insurance agencies, websites don't have a specific schedule and they are available at any time. Drivers that have busy working schedules, can compare quotes from anywhere and at any time, even at midnight. Multiple choices. Almost all insurance providers, no matter if they are well-known brands or just local insurers, have an online presence. Online quotes will allow policyholders the chance to discover multiple insurance companies and check their prices. Drivers are no longer required to get quotes from just a few known insurance companies. Also, local and regional insurers can provide lower insurance rates for the same services. Accurate insurance estimates. Online quotes can only be accurate if the customers provide accurate and real info about their car models and driving history. Lying about past driving incidents can make the price estimates to be lower, but when dealing with an insurance company lying to them is useless. Usually, insurance companies will do research about a potential customer before granting him coverage. Online quotes can be sorted easily. Although drivers are recommended to not choose a policy just based on its price, drivers can easily sort quotes by insurance price. Using brokerage websites will allow drivers to get quotes from multiple insurers, thus making the comparison faster and easier. For additional info, money-saving tips, and free car insurance quotes, visit https://compare-autoinsurance.Org/ Compare-autoinsurance.Org is an online provider of life, home, health, and auto insurance quotes. This website is unique because it does not simply stick to one kind of insurance provider, but brings the clients the best deals from many different online insurance carriers. In this way, clients have access to offers from multiple carriers all in one place: this website. On this site, customers have access to quotes for insurance plans from various agencies, such as local or nationwide agencies, brand names insurance companies, etc. "Online quotes can easily help drivers obtain better car insurance deals. All they have to do is to complete an online form with accurate and real info, then compare prices", said Russell Rabichev, Marketing Director of Internet Marketing Company. CONTACT: Company Name: Internet Marketing CompanyPerson for contact Name: Gurgu CPhone Number: (818) 359-3898Email: [email protected]: https://compare-autoinsurance.Org/ SOURCE: Compare-autoinsurance.Org View source version on accesswire.Com:https://www.Accesswire.Com/595055/What-Are-The-Main-Benefits-Of-Comparing-Car-Insurance-Quotes-Online View photos